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The Lawn Tennis Association (LTA) lost £ 30 million in income year-on-year, and as a result the board incurred an operating loss of £ 5.2 million in 2020. Although the total loss was £ 1.8 million it was still manageable Dollars After taking into account the gains in investment, the general finances of the British Tennis Board were in disarray.
According to reports, this year could prove to be a tougher year for the Lebanese Association for the Promotion of Transparency (LTA). The pandemic wave itself has gotten most of the momentum Tennis The tournaments and their fans are hardly any return.
Nearly 75 percent of its total income of £ 47m in 2020 came from Wimbledon (£ 36m) as a savior for the LTA, demonstrating the importance of insurance against the pandemic at The All England Club. However, the down payment was nearly 10 million pounds less than it was in 2019.
On top of this, LTA just made £ 676,000 income during the major events of 2020 compared to £ 14.4 million from the same events in 2019. Besides empty stadiums and lost ticket sales, business income has also been hit hard. Meanwhile, losses have been mitigated somewhat as the organization saved £ 19.3m, of which around £ 5m was spent to support coaches, stadiums, officials and tennis charities through the pandemic.
from In the previous year, it arranged a £ 15m overdraft facility in order to stabilize volatile working capital, but according to what was said in the following year, it could spark more economic concerns. Wimbledon is also set to take a big hit where reduced spectator capacity will result in reduced input, which is also true for LTA-managed events. The net cost of organizing these tournaments is expected to be approximately double what it was. LTA CEO, Scott Lloyd, emphasized that there may be challenges ahead for the organization.
“This year we have uncertainty due to the reduced capacity in our tournaments and events, as well as the additional costs that Covid is imposing on our events.”
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